Industrial tools maker sets long-term financial goals while accelerating facility closures to cut costs.
Kennametal announced fiscal 2026 sales targets of $2.33 billion to $2.35 billion and adjusted earnings per share of $3.75 to $4.00. The company is accelerating facility closures to streamline operations and reduce expenses amid a challenging industrial environment.
The guidance follows a period of restructuring, with prior-year sales of $2.1 billion and adjusted EPS of $2.80. Analysts had expected gradual improvement, but the new targets suggest confidence in cost-saving measures. The company did not provide immediate market reaction details.
The move reflects broader efforts in the industrial sector to optimize capacity and improve profitability.